Another day, and another session filled with bullish-hype heading into the open. Some economic reports overseas, and developing plans to bailout Greece of their debt problems gives the bulls reason to buy once again this morning. Overall it should be a quiet morning with only ICSC-Goldman Store Sales reporting at 7:45am ET and Redbook at
Amazing how much mileage the bulls have gotten out of the Greece Bailout rumors that have been floating around over the past month. Today is no different, as once again, new scenarios concerning the Greek debt problems and the actions being considered by European nations has the futures off to another descent start. On the
It’s that time of the week, where everyone sits on pins and needles waiting for that jobless claims number (8:30am ET) to come out. We already have a decisively bearish tone heading into the open after European economic sentiment threw investors for a loop. A bad unemployment number today, coupled with all the negatives we have
After yesterday’s resounding victory for the bears, today we got a market heading into the open that is slightly negative and could be looking to extend yesterday’s decline. With consumer confidence hitting a 10-month low, there are a lot of people on edge as to whether we are truly out of the woods. In my
If yesterday’s two-point decline in the S&P got you excited, then you’ll really love the fact that heading into the open we are currently in the red. That’s right, the bulls are suddenly not so optimistic in their usual way. What does all this mean? It probably means we drop 5% right at the open,
The markets are once again at it to extend the bullish feelings that have been prevalent in the market for the past two weeks. Interesting though, the Asian markets are “guns-a-blazin’ this morning rallying over 2.5%, yet its effect has been little to nothing on the US Futures indices. Being short this market has not been
This morning you definitely have a different tone than you have had over the course of the past couple of weeks, with the Fed announcing a that they are raising the overnight lending rate for banks a quarter percent. While the markets are noticeably down this morning, I not going to put it past the
Despite the tear the market has been on this week, the early morning hours is showing futures with a little bit of hesitation. I added three additional short positions to the portfolio with the expectation that this market cannot go much higher as it is up against critical levels of resistance. So if the market doesn’t
Despite a bearish day in the futures market yesterday, when equities markets were closed, today, we have bulls coming back from the three-day weekend being somewhat inspired. As for the economic reports coming out today, the Empire State manufacturing Survey is due out at 8:30am ET, followed by Treasury International Capital at 9am, and at 1pm
Outside of futures trading, everything is closed today in lieu of President's Day. So there won't be any stock picks today. But you can be sure there will be some tomorrow as there is every trading day. Be on the lookout, I'll be putting out another stock screen at some point today, as well as